TransUnion Reports Revenue Increase

TransUnion Corp. reported its second-quarter revenue increased 16% in the company's first quarterly financial report since its initial public offering.

Revenue rose to $378.5 million from $327.5 million a year earlier. The Chicago-based credit-reporting company also projected 2015 revenue of approximately $1.46 billion, an increase of 11.5% from 2014.

TransUnion had launched an IPO in 2011, but the stock never made it to the public market. Instead, Advent International and Goldman Sachs Group Inc.'s private-equity unit acquired TransUnion.

Rival Equifax Inc. raised its yearly outlook last week as the company reported that its second-quarter earnings rose 20%. Earlier this month, Experian reported that its organic revenue rose 3% in the quarter ended June 30, and affirmed its full-year outlook.

Overall, TransUnion reported a loss of $2.6 million, or two cents a share, compared with a year-earlier profit of $17.9 million, or 12 cents a share, last year.

The year-earlier period included a net early debt-extinguishment and refinancing gain of $32.7 million and a $21.7 million gain related to fair-value impacts. Excluding one-time items such as stock-based compensation, technology upgrade-related expenses and the year-earlier gains, per-share earnings rose to 27 cents from 21 cents.

In its U.S. information services business, revenue rose 14% to $239 million on growth across its platforms and a boost from acquisitions. Online data services revenue increased 12% to $159 million, mostly on stronger credit-report volume.

International revenue grew 6% to $68 million--and improved 19% excluding currency impacts--thanks to sales growth in both its developed markets segment and its emerging markets business. In its consumer interactive segment, revenue climbed 31% to $76 million.

TransUnion last month priced its IPO at $22.50 per share, essentially valuing the company at an estimated $4 billion.

In a news release, TransUnion said it would receive net proceeds of about $626.5 million. Company officials said TransUnion sold 29.5 million shares in the offering and could sell an additional 4.4 million if an over-allotment is fully exercised.